ESMA warns Polymarket, Kalshi lack EU authorization

The European Securities and Markets Authority (ESMA) warned that major prediction markets like Polymarket and Kalshi lack the authorization required to serve EU users. ESMA said event contracts may fall under existing EU binary-options bans, crypto-asset frameworks like MiCA, or national gambling laws, signaling regulatory scrutiny over cross-border access to event contracts.

• ESMA flags that these platforms are not authorized to offer their products to EU customers.
• Event contracts could be treated under binary-options bans, MiCA or national gambling rules.